[Alpha Biz= Reporter Kim Jisun] AhnLab announced on the 21st that it has launched a cybersecurity joint venture (JV) named "Rakin" in collaboration with Saudi Arabian company SITE.

Rakin is a local JV created by AhnLab and SITE, a cybersecurity and cloud services firm fully owned by Saudi Arabia's Public Investment Fund (PIF). The name "Rakin" means "stable" or "reliable" in Arabic. AhnLab will provide Rakin with security solutions and technologies optimized for the local IT environment, including threat analysis and security system implementation.

Rakin plans to offer a wide range of solutions and services to Saudi public institutions and enterprises, including endpoint and network security products, as well as cloud and AI-based SaaS security threat analysis platforms (XDR). The company also plans to expand its business to the wider Middle East and North Africa in the future.

To ensure stable operations and foster a long-term partnership with AhnLab, SITE will acquire newly issued AhnLab shares and participate on its board of directors. Both companies will integrate their personnel to operate the joint venture seamlessly.

 

 

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